The Greater Vancouver market continues to be on the rise as we end the month of October. The housing market will enter November with statistics above the long-term averages. Below outlines the key stats from the REBGV October Statistics Report from the Real Estate Board of Greater Vancouver.

Key Stats:

Residential Property Sales: 3,057 – an increase of 14.9% compared to October 2013. Sales were 16.6% above the 10 year sales average for the month of October.

New Listings: 4,487 – an increase of 4% compared to October 2013

Total Properties Listed: 13,851 – a decrease of 9.2% compared to October 2013 and a 6.6% decrease of September 2014

Benchmark Prices:

All Properties: $637,00 – an increase of 6% compared to October 2013

Detached Properties: $995,100 – an increase of 7.9% compared to October 2013

Apartment Properties: $380,200 – an increase of 4% compared to October 2013

Attached Properties: $479,500 – an increase of 4.7% compared to October 2013

The President of the Real Estate Board of Greater Vancouver, Ray Harris, says, “We’ve seen strong and consistent demand from home buyers in Metro Vancouver throughout this year. This has led to steady increases in home prices of between four and eight per cent depending on the property. “Detached homes continue to increase in price more than condominium and townhome properties. This is largely a function of supply and demand as the supply of condominium and townhome properties are more abundant than detached homes in our region.”